The U.S. Census Bureau and the U.S. Department of Housing and Urban Development recently reported that sales of new single-family houses in August, 2017 were at a seasonally adjusted annual rate of 560k. This number is 3.4% below July’s revised rate and is 1.2% lower than one year ago. The median sales price in August was $300,200 and the average sales price was $368,100. There was an estimated 284k new houses for sale representing a 6.1 months supply at the current sales rate.
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